2025-07-30T14:16:20-05:00 2024-12-31 333709623 COHNREZNICK ADVISORY LLC 1 SOUTH WACKER DRIVE SUITE 3550 CHICAGO IL 60606 990 2024-01-01 363696590 BAYONET POINT AREA HOUSING INC C/O EMBRACE LIVING COMMUNITIES BAYO 6305218021 1900 SPRING ROAD SUITE 450 OAK BROOK IL 605231480 RALPH GAINES PRESIDENT AND CEO 6305218021 2025-07-28 1 1 KAREN A SCHAEFER P00545171 3125085900 2025-07-16 2024 2025-03-06 01:10:19Z X RALPH GAINES 1900 SPRING ROAD SUITE 450 OAK BROOK IL 605231480 1228107 0 X WWW.EMBRACELIVING.ORG X 1989 IL TO PROVIDE ACTIVELY AGING ADULTS AFFORDABLE WELCOMING HOMES IN COMMUNITIES THAT EMBRACE LIVING 4 3 0 15 0 0 0 0 891325 1130008 448 276 8366 97823 900139 1228107 0 0 0 0 444713 443065 0 0 0 694368 666577 1139081 1109642 -238942 118465 1564083 1717330 53783 88565 1510300 1628765 X BAYONET POINT AREA HOUSING INC, DBA GREENCASTLE OF BAYONET POINT, WAS INCORPORATED AS A NOT-FOR-PROFIT CORPORATION IN THE STATE OF ILLINOIS IN 1989. IT WAS FORMED TO ACQUIRE LAND AND CONSTRUCT BUILDINGS TO HOUSE LOW-INCOME ELDERLY AND HANDICAPPED PERSONS AS DEFINED BY THE NATIONAL HOUSING ACT OF 1959. OUR MISSION IS TO PROVIDE ACTIVELY AGING ADULTS AFFORDABLE WELCOMING HOMES IN COMMUNITIES THAT EMBRACE LIVING. 0 0 1043400 1227831 TO PROVIDE ACTIVELY AGING ADULTS AFFORDABLE WELCOMING HOMES IN COMMUNITIES THAT EMBRACE LIVING. 1043400 1 0 0 0 0 0 0 0 0 0 1 0 0 1 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 5 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 4 3 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X EMBRACE LIVING 6305218021 COMMUNITIES 1900 SPRING ROAD SUITE BROOK IL 60523 ANNE MCNAMARA CHAIRMAN 0.20 0.00 X 0 0 0 LYNETTE GRABOWSKI DIRECTOR 0.20 0.00 X 0 0 0 CONCETTA DIEL OUTGOING DIRECTOR 0.20 0.00 X 0 0 0 SUSAN CROSBY OUTGOING DIRECTOR 0.20 0.00 X 0 0 0 ELIZABETH TURNER DIRECTOR 0.20 0.00 X 0 0 0 RALPH GAINES PRESIDENT & CEO 0.20 39.80 X 0 371596 50615 ANNE M OLIVA EXECUTIVE VP & CFO 0.00 40.00 X 0 214166 22837 ALINA SERBAN CHIEF OF STAFF 0.00 40.00 X 0 101464 38357 DAWN ZENKNER CONTROLLER 0.00 40.00 X 0 112421 38818 ED HAVLOVIC DIRECTOR OF PLANT OPERATIO 0.00 40.00 X 0 106816 27750 GARY ADAMS DIRECTOR OF OPERATION 0.00 40.00 X 0 116071 29254 JENNIFER TRUPPA DIRECTOR OF SOCIAL SERVICE 0.00 40.00 X 0 119654 40480 0 1142188 248111 0 0 1 0 0 TENANT ASSISTANCE PAYM 531110 817934 817934 RENTAL REVENUE 531110 312074 312074 1130008 276 276 MISCELLANEOUS OTHER RE 533110 89403 89403 LAUNDRY REVENUE 533110 7316 7316 GIFTS 533110 1000 1000 104 104 97823 1228107 1228107 0 0 282356 282356 137912 137912 22797 22797 46080 46080 450 450 20162 20162 112 112 18828 18828 43107 43107 6414 6414 148745 148745 163266 163266 REPAIRS AND MAINTENACE 172336 172336 SUPPORTIVE SERVICES 14355 14355 LOSS ON SALE/ DISPOSAL 11411 11411 WORKMEN'S COMPENSATION 6610 6610 14701 14701 1109642 1043400 66242 0 9668 89306 1039 246484 127598 43138 4727172 3653728 1107562 1073444 318216 264958 1564083 1717330 17883 50703 35900 37862 53783 88565 X -2900921 -2782456 4411221 4411221 1510300 1628765 1564083 1717330 118465 0 X 0 1 X 1 1 1 X 807113 839712 855245 891325 1130008 4523403 807113 839712 855245 891325 1130008 4523403 4523403 519 205 259 448 276 1707 80673 18355 8678 8366 97823 213895 4739005 0.95450 0.96790 X 352352 352352 3619056 3085086 533970 346367 247784 98583 409397 320858 88539 1073444 TENANT SECURITY DEPOSITS 28954 RESERVE FOR INSURANCE 111285 RESERVE FOR REPLACEMENT 124719 264958 TENANT SECURITY DEPOSITS 28076 ACCRUED PAYROLL 9325 DUE TO AFFILIATES 461 37862 1228107 0 1228107 0 1228107 1109642 0 1109642 0 1109642 X X X 0 0 0 0 0 0 0 0 0 RALPH GAINES PRESIDENT & CEO 0 371596 0 0 0 0 0 13800 0 36815 0 422211 0 0 ANNE M OLIVA EXECUTIVE VP & CFO 0 214166 0 0 0 0 0 8513 0 14324 0 237003 0 0 JENNIFER TRUPPA DIRECTOR OF SOCIAL SERVICE 0 119654 0 0 0 0 0 4895 0 35585 0 160134 0 0 DAWN ZENKNER CONTROLLER 0 112421 0 0 0 0 0 4526 0 34292 0 151239 0 0 PART I, LINE 3 THE BOARD OF DIRECTORS OF EMBRACE LIVING COMMUNITIES AND AFFILIATES APPOINTS THE PRESIDENT & CEO AND THE CFO AND DETERMINES THEIR COMPENSATION. THE METHOD USED TO ESTABLISH THE COMPENSATION FOR THE PRESIDENT & CEO AND THE CFO, RECEIVED FROM RELATED ORGANIZATIONS, INCLUDE A COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, FORM 990 OF OTHER SIMILAR ORGANIZATIONS. THE PROCESS INCLUDES A WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEY AND/OR STUDY AND APPROVAL BY THE COMPENSATION COMMITTEE AND THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO ITS SUBMISSION, FORM 990 IS REVIEWED AND APPROVED BY THE FINANCE DEPARTMENT. IT IS THEN PRESENTED TO THE PRESIDENT AND THE BOARD OF DIRECTORS FOR THEIR REVIEW AND APPROVAL FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION HAS A WRITTEN CONFLICT OF INTEREST POLICY. TO ENSURE COMPLIANCE WITH THIS POLICY, THE ORGANIZATION REQUIRES THE FOLLOWING: ON AN ANNUAL BASIS, ALL MEMBERS OF THE BOARD OF DIRECTORS, THE EXECUTIVE LEADERSHIP TEAM, MEMBERS OF SENIOR MANAGEMENT, AND EMPLOYEES WITH PURCHASING AND/OR HIRING RESPONSIBILITIES OR AUTHORITY SHALL INFORM, IN WRITING, THE CHAIRMAN OF THE BOARD, THE CHAIR OF THE FINANCE/AUDIT COMMITTEE, AND THE ORGANIZATION'S EXECUTIVE LEADERSHIP TEAM OF ALL REPORTABLE CONFLICTS. PRIOR TO THE PREPARATION OF THE DISCLOSURE STATEMENTS, THE FINANCE DEPARTMENT SHALL DISTRIBUTE A LIST OF ALL VENDORS WITH WHOM THE ORGANIZATION HAS TRANSACTED BUSINESS AT ANY TIME DURING THE PRECEDING YEAR, ALONG WITH A COPY OF THE DISCLOSURE STATEMENT. THE EXECUTIVE LEADERSHIP TEAM SHALL REVIEW ALL FORMS COMPLETED BY EMPLOYEES, AND THE FINANCE/AUDIT COMMITTEE CHAIRMAN OF THE BOARD SHALL REVIEW ALL COMPLETED FORMS AND DETERMINE APPROPRIATE RESOLUTION IN ACCORDANCE WITH THE NEXT SECTION OF THIS POLICY. IF A CONFLICT ARISES DURING THE YEAR, THE EMPLOYEE OR BOARD MEMBER WILL IMMEDIATELY NOTIFY THE EXECUTIVE LEADERSHIP TEAM WHO WILL DETERMINE APPROPRIATE RESOLUTION. ALL REAL OR APPARENT CONFLICTS OF INTEREST SHALL BE DISCLOSED TO THE FINANCE/AUDIT COMMITTEE CHAIRMAN OF THE BOARD AND THE EXECUTIVE LEADERSHIP TEAM OF THE ORGANIZATION. CONFLICTS SHALL BE RESOLVED AS FOLLOWS: THE CHAIR OF THE FINANCE/AUDIT COMMITTEE SHALL BE RESPONSIBLE FOR MAKING ALL DECISIONS CONCERNING RESOLUTIONS OF CONFLICTS INVOLVING THE BOARD OF DIRECTORS AND THE EXECUTIVE LEADERSHIP TEAM. THE CHAIRMAN OF THE BOARD SHALL BE RESPONSIBLE FOR MAKING ALL DECISIONS CONCERNING RESOLUTIONS OF CONFLICTS INVOLVING FINANCE/AUDIT COMMITTEE MEMBERS. THE EXECUTIVE LEADERSHIP TEAM SHALL BE RESPONSIBLE FOR MAKING ALL DECISIONS CONCERNING RESOLUTIONS OF CONFLICTS INVOLVING EMPLOYEES BELOW THE SENIOR MANAGEMENT LEVEL, SUBJECT TO THE APPROVAL OF THE FINANCE/AUDIT COMMITTEE. AN EMPLOYEE OR DIRECTOR MAY APPEAL THE DECISION THAT A CONFLICT, OR APPEARANCE OF CONFLICT, EXISTS AS FOLLOWS: *AN APPEAL MUST BE DIRECTED TO THE CHAIRMAN OF THE BOARD. *APPEALS MUST BE MADE WITHIN 30 DAYS OF THE INITIAL DETERMINATION. *RESOLUTION OF THE APPEAL SHALL BE MADE BY VOTE OF THE FULL BOARD OF DIRECTORS. *BOARD MEMBERS WHO ARE THE SUBJECT OF THE APPEAL, OR WHO HAVE A CONFLICT OF INTEREST WITH RESPECT TO THE SUBJECT OF THE APPEAL, SHALL ABSTAIN FROM PARTICIPATING IN, DISCUSSING, OR VOTING ON THE RESOLUTION, UNLESS THEIR DISCUSSION IS REQUESTED BY THE REMAINING MEMBERS OF THE BOARD. FAILURE TO COMPLY WITH THE STANDARDS CONTAINED IN THIS POLICY WILL RESULT IN DISCIPLINARY ACTION THAT MAY INCLUDE TERMINATION, REFERRAL FOR CRIMINAL PROSECUTION, AND REIMBURSEMENT TO THE ORGANIZATION OR TO THE GOVERNMENT, FOR ANY LOSS OR DAMAGE RESULTING FROM THE VIOLATION. AS WITH ALL MATTERS INVOLVING DISCIPLINARY ACTION, PRINCIPLES OF FAIRNESS WILL APPLY. ANY EMPLOYEE CHARGED WITH A VIOLATION OF THIS POLICY WILL BE AFFORDED AN OPPORTUNITY TO EXPLAIN HIS/HER ACTIONS BEFORE DISCIPLINARY ACTION IS TAKEN. FORM 990, PART VI, SECTION B, LINE 15 ALL EMPLOYEES ARE CO-EMPLOYED BY A PEO (PROFESSIONAL EMPLOYMENT ORGANIZATION), GROUP MANAGEMENT SERVICES, INC. AND EMBRACE LIVING COMMUNITIES. ALL FORMS, INCLUDING W-2'S AND REPORTS, ARE ISSUED UNDER THE EIN OF GROUP MANAGEMENT SERVICES, INC. 34-1707723. THE REPORTING ORGANIZATION REIMBURSES EMBRACE LIVING COMMUNITIES FOR ALL EMPLOYEE COMPENSATION EXPENSES. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS AND THE FINANCIAL STATEMENTS OF THE ORGANIZATION ARE AVAILABLE TO THE PUBLIC UPON REQUEST. THE GOVERNING DOCUMENTS AND THE FINANCIAL STATEMENTS OF THE ORGANIZATION ALSO CAN BE FOUND ON THE INTERNET IN WEBSITES FOR NOT-FOR-PROFIT ORGANIZATIONS LIKE WWW.GUIDESTAR.COM. BAYONET AREA HOUSING INC GREENCASTLE OF BAYONET POINT WAS INCORPORATED AS A NOT-FOR-PROFIT CORPORATION IN THE STATE OF ILLINOIS IN 1989. IT WAS FORMED TO ACQUIRE LAND AND CONSTRUCT BUILDINGS TO HOUSE LOW-INCOME ELDERLY AND HANDICAPPED PERSONS AS DEFINED BY THE NATIONAL HOUSING ACT OF 1959. GREENCASTLE OF BAYONET POINT IS A 80-UNIT, GOVERNMENT-SUBSIDIZED HOUSING COMMUNITY MANAGED BY EMBRACE LIVING COMMUNITIES FOR SENIORS AND PHYSICALLY CHALLENGED ADULTS WITH LIMITED RESOURCES. LOCATED AT 11722 LA MADERA BLVD, PORT RICHEY, FLORIDA, IT OPENED IN 1994. APPLICANTS MUST BE AT LEAST 62 YEARS OF AGE OR 18 YEARS OF AGE AND OLDER WITH A MEDICALLY DOCUMENTED PHYSICAL CONDITION THAT COULD BENEFIT FROM SPECIAL DESIGN FEATURES OF AN "ACCESSIBLE" APARTMENT AND MUST MEET FEDERAL INCOME GUIDELINES. AN APPLICANT'S INCOME MUST BE AT OR BELOW THE "VERY LOW" INCOME STANDARD ESTABLISHED BY THE FEDERAL DEPARTMENT OF HOUSING & URBAN DEVELOPMENT. RENT AT THIS HOUSING COMMUNITY DOES NOT EXCEED 30% OF THE RESIDENT'S GROSS MONTHLY INCOME. GREENCASTLE OF BAYONET POINT OFFERS AN ON-SITE MANAGER AND SOCIAL WORKER WHO HAVE COMPLETED NATIONAL CERTIFICATION PROGRAMS. BUILDING MAINTENANCE AND HOUSEKEEPING ARE ALSO ON-SITE. THE HOUSING COMMUNITY OFFERS ORGANIZED ACTIVITIES, LAUNDRY FACILITIES, A COMMUNITY ROOM, PARKING, AND BUILDING SECURITY. REGULATION SECTION 1.263(A)-1(F) - DE MINIMIS SAFE HARBOR ELECTION TAXPAYER NAME: BAYONET POINT AREA HOUSING INC TAXPAYER ADDRESS: 1900 SPRING ROAD, SUITE 450, OAK BROOK, IL 60523 TAXPAYER ID NUMBER: 36-3696590 YEAR-END: 12/31/2024 UNDER IRC REGULATION SECTION 1.263(A)-1(F), THE TAXPAYER HEREBY ELECTS TO APPLY THE DE MINIMIS SAFE HARBOR ELECTION. OFFICERS OFFICERS OF EMBRACE LIVING COMMUNITIES (THE MANAGEMENT AGENT) ALSO SERVE AS OFFICERS OF THE REPORTING ORGANIZATION. THEY ARE CO-EMPLOYED BY A PEO (PROFESSIONAL EMPLOYMENT ORGANIZATION), GROUP MANAGEMENT SERVICES, INC AND EMBRACE LIVING COMMUNITIES. THEIR COMPENSATION IS PAID BY EMBRACE LIVING COMMUNITIES FROM THE MANAGEMENT FEES FROM THE REPORTING CORPORATION AND ALL OTHER AFFILIATED CORPORATIONS. MANAGEMENT EMBRACE LIVING COMMUNITIES, A NOT-FOR-PROFIT CORPORATION, IS THE MANAGING AGENT AND RECEIVES MANAGEMENT FEES AS A PERCENTAGE OF THE GROSS RENTS, INCLUDING RENTAL SUBSIDIES AND OTHER INCOME UNDER TERMS OF A MANAGEMENT AGREEMENT APPROVED BY HUD. THE MANAGING AGENT IS RESPONSIBLE FOR THE DAY TO DAY ACTIVITIES OF THE ORGANIZATION SUCH AS MAINTAINING THE BUILDING, RESIDENT SUPPORT, HIRING AND SUPERVISING THE EMPLOYEES. IT ALSO PROVIDES ALL THE NECESSARY BOOKKEEPING AND ACCOUNTING SERVICES AND SUBMITS ALL THE REQUIRED FINANCIAL REPORTS. ALL DECISIONS AND REPORTS ARE PRESENTED AND DISCUSSED WITH THE BOARD OF DIRECTORS AND APPROVED BY THE BOARD OF DIRECTORS. 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